Pretoria - South Africa will today participate in the first World Association of Investment Promotion Agencies (WAIPA) steering committee meeting, which is set to benefit the continent.
Trade and Industry Minister Rob Davies said on Sunday that South Africa’s election as executive vice president of WAIPA was a boost for the African continent.
The country was chosen as vice president by the international organisation’s General Assembly at its annual conference in Geneva, Switzerland.
“The appointment of South Africa on the Steering Committee of WAIPA is a boost for Africa and will benefit the African continent. South Africa will be a voice for the improving investment climate on continent.
“Recent investments by multinationals have affirmed South Africa as a hub and a gateway into the continent, with new investments and expansions in the manufacturing sector. These large scale investments include Unilever, Proctor & Gamble and Nestlé, among others,” said Davies.
Pumla Ncapayi, the Deputy Director-General of Trade and Investment South Africa -- a division of the Department of Trade and Industry -- will serve as Executive Vice President on behalf of the country for a two-year period.
Ncapayi will today attend the first WAIPA Steering Committee meeting in Dubai.
WAIPA was established in 1995 and is a registered non-governmental organisation based in Geneva, Switzerland. It has 165 member investment promotion agencies (IPAs) from 122 countries.
Through its wide range of activities, WAIPA provides the opportunity for IPAs to network and exchange best practices in investment promotion.
The organisation’s objectives include promoting and developing understanding and cooperation amongst IPAs, sharing country and regional experiences in attracting foreign investment, and enhancing outward investments. - SAnews.gov.za
